Arts groups rail against CanWest-Goldman Sachs deal for Alliance Atlantis
Last Updated: Tuesday, November 20, 2007 | 3:14 PM ET
CBC News
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The proposed takeover of Alliance Atlantis by CanWest Global Communications and its U.S. partner Goldman Sachs came under fire again on Tuesday from Canadian arts groups.
At CRTC hearings in Gatineau, Que., ACTRA and the Writers Guild of Canada called on the country's broadcast regulator to block the acquisition.
Maureen Parker, the executive director of the writers guild, said her group doesn't object to CanWest's purchase of Alliance Atlantis specialty channels, but raised concerns about Goldman Sachs' role in the deal.
"Had CanWest chosen to partner with a Canadian investor, or even a foreign partner with less than 50 per cent of equity and debt, we would not be here today,” Parker said.
CanWest is contributing about 36 per cent of the money in the takeover, while Goldman Sachs is putting up 64 per cent. The partners say CanWest will retain control of the venture by holding a majority of the voting shares.
"Increased foreign control of broadcasting would damage our cultural sovereignty, deepen the crisis in Canadian drama and potentially jeopardize Canadian content rules," said Richard
Hardacre, the national president of ACTRA.
Leonard Asper, the CEO of CanWest, was to deliver a closing statement on the takeover at the CRTC hearing later on Tuesday.
With files from Canadian PressShare Tools
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